RLX Technology (NYSE:RLX) Shares Down 4.3% – Time to Sell?

RLX Technology Inc. (NYSE:RLX) traded down 4.3% on Tuesday . The company traded as low as $1.88 and last traded at $1.89. 1,634,456 shares traded hands during trading, a decline of 65% from the average session volume of 4,655,946 shares. The stock had previously closed at $1.97.

RLX Technology Price Performance

The firm’s fifty day moving average is $1.72 and its 200-day moving average is $1.76. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 49.26 and a beta of 1.02.

RLX Technology Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, December 6th. This represents a yield of 0.59%.

Hedge Funds Weigh In On RLX Technology

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in RLX Technology by 7,420.4% in the second quarter. SG Americas Securities LLC now owns 4,729,553 shares of the company’s stock worth $8,702,000 after acquiring an additional 4,666,663 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of RLX Technology by 36.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock worth $73,000 after purchasing an additional 10,596 shares in the last quarter. Profund Advisors LLC acquired a new stake in RLX Technology in the 2nd quarter valued at $72,000. Susquehanna Fundamental Investments LLC bought a new stake in RLX Technology during the 2nd quarter valued at $146,000. Finally, Blue Trust Inc. raised its holdings in RLX Technology by 284.8% during the third quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock worth $65,000 after buying an additional 26,220 shares during the last quarter. 22.68% of the stock is currently owned by institutional investors.

About RLX Technology

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.